Commercial Construction Could Be Rebounding: US Chamber
The new Commercial Construction Index from the U.S. Chamber of Commerce is still far below the first quarter.
September 21, 2020 | Scott Baltic | Commercial Property Executive
Is commercial construction recovering? Maybe. The U.S. Chamber of Commerce Commercial Construction index for the third quarter rose to 57 from 56 in the second quarter.
That qualifies as “statistically unchanged,” the Chamber conceded, and is far below the score of 74 back in the first quarter. But in a wider context, the group interpreted the latest number as a sign of a possible rebound in the commercial construction sector.
The reason isn’t bravado, but rather that two of the index’s key drivers are up in the third quarter. Confidence about new business increased by six points, from 50 to 56, and revenue expectations rose four points, from 44 to 48, in the most recent quarter.
